$207,000 Hoffman v Gilford Securities et al Award
In July 2017, a FINRA arbitration panel in New York, NY ordered Gilford Securities and the broker to pay at least $207,000 in compensatory damages and interest. Dr. McCann testified on liability and damages.
Brown v. Morgan Stanley and Citigroup - $150,000 Award
In June 2017, a FINRA arbitration panel in Detroit, Michigan ordered Morgan Stanley Smith Barney, LLC and Citigroup Global Markets, Inc to pay $150,000 in compensatory damages plus costs and fees. Dr. O'Neal testified to the unsuitability of the exchange fund sold to the client and to damages emanating from the exchange fund transaction.
$4.4 Million Cummings v UBS of Puerto Rico Award
In March 2017, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $3,919,359 in compensatory damages, $61,499 in costs and $442,318 in attorneys' fees. In addition, the panel voided debts claimed by the Respondents. Dr. O'Neal testified on liability and damages over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds.
$9 Million Romero v UBS PR Award
In February 2017, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $7,983,230 in net compensatory damages and $1 Million in punitive damages. Dr. McCann testified on liability and damages over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds.
$600,000 Matus v UBS of Puerto Rico Award
In February 2017, a FINRA arbitration panel in Aventura, FL ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $339,000 in compensatory damages, $24,500 in expert witness costs, at least $111,870 in interest plus attorney's fees to be determined by a court pursuant to FL Statute 517. Dr. McCann testified on liability and damages over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds.
$25 Million Gomez v UBS of Puerto Rico Award
In January 2017, a FINRA arbitration panel in San Juan, PR ordered UBS
Financial Services and UBS Financial Services of Puerto Rico to pay at least
$18,215,000 in compensatory damages, punitive damages, attorneys' fees and
expert witness costs. It also denied the Respondents' Counterclaim to
recover a large debit balance. Dr. McCann testified on liability and damages over UBS Puerto Rico's sale of UBS Puerto Rico municipal bond closed end funds.
$2 Million Interactive Brokers VXX ETN Award
In January 2017, a FINRA arbitration panel in Richmond, VA ordered Interactive Brokers to pay at least $1,930,000 in compensatory damages, debt cancellation and attorney's fees. Dr. McCann testified on liability - specifically on whether VXX ETNs and options on VXX ETNs were eligible for portfolio margin - and damages.
$1 Million Bien v Mid Atlantic Capital non-traded REIT Award
In December 2016, a FINRA arbitration panel in Denver, CO ordered Mid Atlantic Capital Group to pay at least $1,037,000 in compensatory damages, interest, attorney's fees and expert witness costs. Dr. McCann testified on liability and damages over Mid Atlantic's sale of a non-traded KBS REIT and illiquid loan fund, Sonoma Ridge Partners.
$740,000 Condado Motors v UBS of Puerto Rico Award
In November 2016, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $611,251 in compensatory damages and costs. In addition, the panel ordered UBS to buy back 17,040 shares of Fixed Income Fund III at $9.70 or make up the difference from the sales proceeds if the Claimant has sold these shares, potentially adding another $130,000 to the award given an approximate $2 per share current value. Dr. O'Neal testified on liability over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds.
$958,000 Ciordia-Robles v UBS of Puerto Rico Award
In November 2016, a FINRA arbitration panel in San Juan, PR ordered UBS Financial Services and UBS Financial Services of Puerto Rico to pay $958,000 in compensatory damages, attorney's fees and expert witness costs. Dr. McCann testified on liability and damages over UBS Puerto Rico's sale of UBS Puerto Rico municipal closed end bond funds.
